Thursday 08/May/2025 – 09:39 AM
Gold prices stabilized in the local and global markets at their low levels, with the beginning of trading today, Thursday, May 8, 2025, in the first trading after the US Federal Bank’s decision issued yesterday evening to install the interest rate for the third time in a row.
Gold prices today
The price of 21 carat gold today recorded about 4810 pounds.
The price of 24 carat gold today recorded about 5497 pounds.
The price of 18 carat gold was about 4122 pounds.
While the price of the gold pound came today about 38480 pounds.
The price of an ounce globally reached about 3340 dollars.
Gold maintained its decline after the Federal Reserve Chairman Jerome Powell said that the US Central Bank is not in a hurry to amend interest rates despite the trade war launched by President Donald Trump.
Powell said it is still appropriate to keep the interest rates fixed, noting during a press conference on Wednesday: “We are in the right place to wait and see the developments of matters.” Federal reserve officials have voted unanimously to keep the standard interest rate on federal funds in a range between 4.25% and 4.5%, the scope that has settled since December.
“If the large increases in the customs duties that have been announced, it is likely that it is likely to lead to an increase in inflation, slowdown in economic growth and an increase in unemployment,” said Powell.
The monetary policy of the US Federal Reserve (the US Central Bank) has announced the maintenance of interest rates on federal funds unchanged at 4.25% – 4.50%, for the third time in a row.
The American federal proves interest rates
Expectations indicated that the Monetary policy makers at the US Federal Bank would make a decision to stabilize the interest rate, and to refrain from the decision to reduce, amid developments in an accurate time in which the American economy is witnessing a slowdown in inflation rates, and a variation in the performance of the labor market, which is reflected in the movement of the dollar, stock markets, commodities, especially gold and oil.
